Global Medical REIT Inc (GMRE) Given Average Recommendation of “Buy” by Analysts

Global Medical REIT Inc (NYSE:GMRE) has been given a consensus rating of “Buy” by the eight research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.75.

Several equities analysts recently issued reports on GMRE shares. Zacks Investment Research cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. B. Riley reissued a “buy” rating and set a $10.50 price objective on shares of Global Medical REIT in a research note on Friday, November 10th. Finally, TheStreet lowered shares of Global Medical REIT from a “c-” rating to a “d” rating in a research note on Thursday, February 1st.

Shares of Global Medical REIT (NYSE:GMRE) traded down $0.01 during midday trading on Wednesday, hitting $7.58. 84,100 shares of the company traded hands, compared to its average volume of 124,730. Global Medical REIT has a one year low of $6.84 and a one year high of $10.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market capitalization of $163.96, a PE ratio of 19.44, a P/E/G ratio of 1.20 and a beta of -0.19.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Global Medical REIT by 4.2% in the fourth quarter. BlackRock Inc. now owns 831,902 shares of the company’s stock worth $6,822,000 after buying an additional 33,411 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Global Medical REIT by 0.8% in the second quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock worth $4,667,000 after buying an additional 4,044 shares in the last quarter. Pacific Ridge Capital Partners LLC bought a new position in shares of Global Medical REIT in the fourth quarter worth approximately $3,266,000. Goldman Sachs Group Inc. lifted its stake in shares of Global Medical REIT by 378.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 384,657 shares of the company’s stock worth $3,154,000 after buying an additional 304,286 shares in the last quarter. Finally, RMR Advisors LLC lifted its stake in shares of Global Medical REIT by 169.0% in the fourth quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock worth $2,832,000 after buying an additional 216,943 shares in the last quarter. Hedge funds and other institutional investors own 49.39% of the company’s stock.

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About Global Medical REIT

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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